PM moves to cut diesel prices as fuel costs soar

PM Shehbaz Sharif directed Petroleum Minister Ali Pervaiz Malik to immediately travel to Karachi and negotiate with local oil refineries for a reduction in the price of locally produced diesel.

During a meeting with the petroleum minister, PM Shehbaz stressed that most diesel is produced by domestic refineries and instructed Malik to personally complete negotiations at the earliest.

Fuel prices have remained under pressure amid volatility in international oil markets linked to geopolitical tensions. Pakistan has also shifted to a daily fuel-pricing mechanism, with rates linked to international market movements.

The prime minister’s latest directive seeks to use locally produced diesel to ease the burden on consumers, particularly the transport sector, where diesel costs have a direct impact on freight and goods transportation.

The meeting was attended by Information Minister Attaullah Tarar, Economic Affairs Minister Ahad Khan Cheema, Climate Change Minister Musadik Malik and MNA Hamza Shehbaz.